President Orders Strategic Petroleum Reserve Filled
Statement by the President

The Strategic Petroleum Reserve (SPR) is an important element of
our Nation's energy security. To maximize long-term protection against
oil supply disruptions, I am directing today the Secretary of Energy to
fill the SPR up to its 700 million barrel capacity.

The SPR will be filled in a deliberate and cost-effective manner.
This will be done principally through royalty-in-kind transfers to be
implemented by the Department of Energy and the Department of the
Interior.

Our current oil inventories, and those of our allies who hold
strategic stocks, are sufficient to meet any potential near-term
disruption in supplies. Filling the SPR up to capacity will
strengthen the long-term energy security of the United States.